U.S. stocks end steeply down as financials shake up market

Date: Thu, 07 Aug 2008 17:05:21 -0400

U.S. stocks end steeply down as financials shake up market

U.S. stocks decline for the first day in three after the government
reports a rise in weekly jobless claims, American International Group
posts a large loss and Wal-Mart's sales cast a pall.

Hedge Funds: Managers lag equity benchmarks in painful July, indexes
show

SAN FRANCISC
A surge in financial-services stocks and slumping energy markets hit
some hedge funds hard in July, leaving the $2 trillion industry on
course for its worst year in at least two decades.

With end of stimulus checks, retailers miss July targets

With the end of stimulus checks, U.S. retailers led by Wal-Mart Stores
Inc. report disappointing July sales as cash-strapped consumers remain
cautious about discretionary purchases.

Citi to settle charges on auction-rate securities

Citigroup agrees to buy back about $7 billion of auction-rate securities
it sold to customers, and the financial-services giant will pay at $100
million in penalties to settle charges that it made misrepresentations
in its marketing and sales of securities. 

IPO Report: Rackspace IPO may break record dry spell

SAN FRANCISCO
A record dry spell for venture-backed initial public offerings may be
broken Thursday, not by a Silicon Valley star but by a Web hosting
outfit out of San Antonio, Texas.